2018 Indian budget highlights- is budget common man friendly?

• NO PERSONAL INCOME TAX CHANGES PROPOSED IN BUDGET

• Growth in direct taxes (till Jan 15) is 18.7 %

• Surcharge of 10% on income above Rs 50 lakh but less than Rs 1 cr to be continued next year; ..

• Rs 7.5 lakh per senior citizen limit for investment in interest-bearing LIC schemes doubled to Rs 15 lakh

• Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers

• Govt to reduce hardships faced in realty deals; no adjustment to be made in case circle rate does not exceed 5 pc of ..

• LONG TERM CAPITAL GAINS EXCEEDING RS 1 L AKH WILL BE TAXED AT 10% WITHOUT INDEXING

• Short term capital tax remains at 15%

• 8 crore poor women will get new LPG connections.

• PM Saubhagya Yojana: 4 crore poor people will get power connection.

• The government will spend Rs 16,000 crore on this scheme.

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